Paragon Mortgages has launched three new fixed-rate products targeted at professional landlords.
The trio of deals are all fixed for two years and are priced at 5.3%, 5.4% and 5.5% against maximum loan-to-values of 65%, 70% and 75% respectively.
Paragon’s professional landlord lending criteria can include limited companies, multi-unit blocks and Houses in Multiple Occupation
The products have a 2% fee and revert to Paragon’s Standard Variable Rate + 0.5% after the fixed period ends
John Heron , Paragon Mortgages’ managing director, said: “Professional landlords are the cornerstone of the private rented sector and Paragon is focused on helping them to drive their businesses forward. The number of households living in privately rented accommodation is forecast to grow to one in five by 2015 and it will be professional landlords who will be powering this growth.